Tuesday, February 28, 2012

Durable Goods Orders, Home Prices Slip Again

Let's face it, the economic news has not been good. Things are at best tepid. And that's being kind. Each day brings more cause for concern. Here's the latest:
  • New orders for U.S. manufactured goods fell in January by the most in three years as demand fell across the board from machinery to aircraft, suggesting the economy started the year on weaker footing than expected.
  •  Home prices fell in December for a fourth straight month in most major U.S. cities. Prices fell in 19 of the 20 cities in December compared to the same month in 2010. David M. Blitzer, chairman of the S&P's index committee says "If anything, it looks like we might have reentered a period of decline as we begin 2012."

1 comment:

Ryan said...

Let's also, then, face this. Today marked the first time the Dow closed above 13,000 since 2008 (well before the election of 2008, to be more specific). That is what's called a fact.

Another fact, using the common benchmark of 20 years as constituting a generation, let's go back a generation and look at stock market history. In that time, we've had two eight-year terms, one a D one an R, and now another D coming up on the four year mark with the future to be determined. Under two of those administrations, the market--and people's retirement investments along with it--went up. Under one, it went down. Clinton's term saw a 200% increase. To date, Obama is at a 56% increase. Those are facts--measurable and objective.